Judy Genton,Realtor,e-PRO

This is response from Senator Dianne Feinstein regarding letter to our representatives, asking for support to extend the First Time Homebuyers tax credit which is set to expire end of November, 09. Doesn't sound very positive it will be voted on in time, since it looks like it might be held up in committee.

Dear Mrs. Genton:

Thank you for contacting me to express your support for expanding the first-time homebuyer tax credit. I appreciate the time you took to write and welcome the opportunity to respond.

In July 2008, the Housing and Economic Recovery Act of 2008 (Public Law 110-289) provided first-time homebuyers with a tax credit, equivalent to an interest-free loan, worth up to $7,500. The tax credit applied to homes purchased between April 9, 2009 and July 1, 2009. As the housing situation worsened in the fall of 2008, additional action was taken to prevent further declines in home values. Congress included in the American Recovery and Reinvestment Act of 2009 (Public Law 111-5), a more robust first-time homebuyer tax credit. Specifically, the tax credit was increased to $8,000 for homes purchased in 2009 and will not have to be repaid.

I understand your belief that the first-time homebuyer tax credit should be increased and expanded further. As you know, on June 10, 2009, Senator Johnny Isakson (R-GA) introduced the "Home Buyer Tax Credit Act of 2009" (S. 1230), which would increase the credit to up to $15,000, remove income eligibility limits, and expand it to include homebuyers purchasing homes other than their first. S. 1230 has been referred to the Senate Finance Committee, of which I am not a member. Please know that I will keep your support for this legislation in mind should it come before the full Senate.

Once again, thank you for writing. If you have any additional questions or concerns, please do not hesitate to contact my Washington, D.C. office at (202) 224-3841. Best regards.

Sincerely yours,

Dianne Feinstein
United States Senator

Indian Wells is always looking for ways to better and improve the city & homeowners lives plus the enviroment . This is their latest.

City Launches New Community Garden Project

Do you have a "green thumb" when it comes to planting? Do you like to garden but don't have appropriate space where you live? Or do you simply like the idea of meeting others in a beautiful outdoor setting?

The City of Indian Wells is in the process of establishing an organic Community Garden adjacent to City Hall. This project not only offers yet another benefit for residents, but also supports the city's commitment to sustainable living practices. Ryan Bowen, the city's expert landscape architect, has already planted a sample garden (see his fabulous example in these photos) and would be available to assist residents with their individual plots. Indian Wells residents who wish to participate and cultivate a garden bed would pay a nominal $25 fee per year to establish and maintain their gardens.

An organic Community Garden offers many benefits: In addition to providing fresh and pesticide-free flowers, vegetables and herbs, it provides an area for socializing, offers a natural teaching/learning environment for people of all ages, and creates a sense of community pride and stewardship of the land.

Fifty (50) 4-foot by 10-foot garden plots will be available for planting. An interest list is now forming. To learn more and add your name to the interest list today, call City Hall, (760) 346-2489.

Inventory information for Coachella Valley as of July 24th,2009

The inventory of residential properties in the Palm Desert MLS has come down again and is now at 5,892 properties

A total of 869 properties have sold here in the past 3 months, from Rancho Mirage, Palm Desert (including Sun City), Indian Wells and La Quinta.

Average of 290 properties sold per month

Total current Active inventory in these cities is 2,824 properties

Currently a 9.8 month supply of properties

A big reason that sellers need to be competitive and buyers ready to act quickly on well priced properties.

Indian Wells statistics as of May 21,2009

Its been an interesting season for Indian Wells real estate sales, here are a few up to date figures as of today.

There have been 50 homes/properties(not land) sold since January 1,2009. Ranging in price from $132,500, condo in Mountain Cove, to $2,900,000 in The Reserve. 7 of those properties were bank owned and 3 were short sales.

There are currently 315 homes for sale as of today, ranging from low of $139,900 to high of $20,000,000. Of those 315, there are 5 for sale that are bank owned, ranging from low of $489,000 to high of $1,100,000. There are 10 short sales ranging from low of $199,500 to high of $2,100,000. Lots of property to choose from. Call me if you'd like a current list.

Some statistics for the Coachella Valley compiled from the local Desert multiple service. Even though the doom and gloom for most of California still resonates through out the local and national media. when you take a look at the numbers for our area it really isn't as bad as all that.

Its a good time to buy and there are alot of good mortgage programs out there, just ask.

REO "Bank Owned" Stats for February- Palm Springs/Cathedral City had 137 total sold, 5 REO or 3.6%. Desert Hot Springs- 42 total sold, 8 REO or 19%. Palm Desert/Rancho Mirage/Indian Wells/LaQuinta had 268 sold, 7 REO or 2.6%.

Riverside County had 1775 sold, 210 REO or 11.8%. Moreno Valley highest@ 22.7%